Travel Info
What happen in the Asian Financial crisis?how did Thailand recover from the Asian Financial crisis?
Travel Tips
well, to my eye, what I saw was this - lots of speculation, people buying houses and selling them before they were even complete and making a profit - which led to them investing and buying 5 houses, which led to a building boom and an oversupply - and no demand - and lots of bank loans that could not be paid back and lots of half finished cement buildings all around the country...
and yes, they seem to have bounced back quite well, with banks having a much lower rate of non-performing loans if you can believe what you read in the paper..?? |
